Romania supports the setting up of a regional World Bank office in Bucharest, said president Klaus Iohannis during meeting with Frank Heemskerk, Executive Director of the World Bank Group.

The two officials discussed about the partnership between Romania and the World Bank, in the field of economic policies and corporate governance, as well as about using World Bank’s expertise to implement structural reforms and increase absorption of EU funds.

World Bank is an international public institution, funded by taxpayers and owned by governments. Its explicit mandate is to increase local development in the countries where it spends its money.

Starting 1991, World Bank projects in Romania  have supported reforms in energy, education, infrastructure and the land market. They also supported poverty reduction, reform of the state and environmental protection, and provided support  for institution building, governance reform and EU accession. Between 2010 and 2012, the World Bank projects focused on several areas, such as systemic reforms in public finances, public administration, the financial sector, education, health, social assistance, and social security.

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editor@romania-insider.com

(Photo source: presidency.ro)